Cubesmart Self Storage

49661 US-27  Polk County, FL 33897

Min. Invest $50,000
Target Hold 60 mo
Annualized Returns 12%
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Investment Highlights

Davenport Self Storage

Route 27 North

Davenport, FL 33897

 

Number of Units 829
Number of Buildings 3
Land Size 6.8 acres
Total Rentable Sq Ft 111,960 SF
Completion Date August 2020
Access One Main Entry
Cost of Land $2,200,000
Closing Costs and Fees $724,874
Total Cost $11,097,584

 

Investment Type: Term: Raise Amount:
Preferred Equity
60 Months $3,733,950

Why Invest?

Integrity Holdings Group and Island Estate Group are pleased to present the exclusive listing of the 829 neighborhoods outside the city of Orlando just south of Disney. While Orlando is the second fastest growing large city in the country (according to Forbes) with estimates from 2.4% to 3% growth per year, the populaproperty territory have an average annual growth rate of 5.5% per year compounded annually since 2000

Financial Analysis

Capital Required from Investors:

 

Down Payment     $3,300,00
Capital Reserves $400,000
Loan Fee/3rd Party Reports $53,950
Acquisition Fee $300,000
Project Development Fee $400,000
Legal Cost $80,000
Total Equity Invested $4,533,950

 

Proposed Loan Terms:

 

Loan Amount $6,277,000
Down Payment $3,600,000
Interest Rate 4.61% Interest Only
Term 1 Year Interest only convertible construction to permanent
Amortization 25 years
Annual Debt Service $423,907

 

Financial Sources

Bank Loan $8,000,000

Financial Uses

Total Construction Costs $8,182,136
Land Cost $2,200,000
Holding Fee $605,571
Project Cost $10,987,707
Closing Costs $109,877
Total Project Cost $11,097,584

Property Summary


Property type: Self-Storage

No. Units: 829

Lot Size: 7 AC

No. Stories: 1

Building Size: 0

CubeSmart HWY 27 Storage

Integrity Holdings Group and Island Estate Group have partnered once again to build their 3rd self storage facility in Orlando Florida. The 6.8 Acres will be home to over 110k rentable sq ft and 829 units, all managed by CubeSmart. The project is ideally located on Highway 27 in the middle of massive development in the 2nd fastest growing city in the country for the last 3 years.

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